Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2135 15th St Rockford, IL 61104-7310
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2135 15th St Rockford, IL 61104-7310

    View on Map
    • Industrial properties
    • 67,137 SF
    • 3.70 lot acres
    Off-Market
    Property ID
    US28-2546735
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,690,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Olson Aluminum Castings, Ltd. / Building Supply / Metal Fabrication Plant
    • Sky Bracket / Building Supply / Mill

    Property Details for 2135 15th St

    Year built
    1981
    Construction
    STEEL FRAME
    Lot size
    3.70 lot acres
    Property size
    67,137 SF
    Zone code
    I1
    Property type
    Industrial properties
    APN
    11-36-402-004
    APU
    1136402004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,992,000
      Market price range: $657k - $2.07M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,275,000
      Current use
      COMMERCIAL (GENERAL)
      $2,790,000
      Change: +119% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0662
    Latitude
    42.2438
    CBSA code
    40420
    CBSA name
    ROCKFORD, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $41,348
    $28,432
    $369,780
    $398,212
    -
    $85,296
    $1,109,340
    $1,194,636

    Comparable in this City

    • Value Estimation by Request
      0.12 Acres

      Railroad

      INDUSTRIAL (GENERAL) • 0.12 Acres
      Railroad, Rockford, IL 61104
      View Details
    • Value Estimation by Request
      8,690 SF

      14th St

      INDUSTRIAL (GENERAL) • 8,690 SF
      14th St, Rockford, IL 61104
      View Details
    • Value Estimation by Request
      984 SF

      1230 15th Ave

      INDUSTRIAL (GENERAL) • 984 SF
      1230 15th Ave, Rockford, IL 61104
      View Details
    • Value Estimation by Request
      384 SF

      2235 15th St

      INDUSTRIAL (GENERAL) • 384 SF
      2235 15th St, Rockford, IL 61104
      View Details
    • Value Estimation by Request
      42,163 SF

      1820 16th Ave

      INDUSTRIAL (GENERAL) • 42,163 SF
      1820 16th Ave, Rockford, IL 61104-5453
      View Details
    • Value Estimation by Request
      22,000 SF

      1800 16th Ave

      INDUSTRIAL (GENERAL) • 22,000 SF
      1800 16th Ave, Rockford, IL 61104-5453
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,092 SF

      Rockford Industrial/Retail Opportunity

      12,092 SqFt industrial/retail property available for sale in Rockford, IL.
      1921 Broadway, Rockford, IL 61104
      View Details
    • Contact for pricing
      18,050 SF

      Industrial Building Near Airport

      Multi-tenant industrial building suitable for warehouse or manufacturing operations.
      711 19Th St, Rockford, IL 61104
      View Details
    • $224,900
      1.07 Acres

      Rockford Commercial Property with Storage

      Commercial property with storage, overhead doors, and customization potential.
      2111 11Th St, Rockford, IL 61104
      View Details
    • Contact for pricing
      63,034 SF

      Rockford Warehouse with Fenced Yard

      63,034 SF warehouse with secure fenced yard for lease.
      1827 18Th Ave, Rockford, IL 61104
      View Details
    • $489,000
      19,600 SF

      Industrial Property with Crane Access

      Two industrial buildings totaling 19,600 SF with cranes.
      1912 23Rd Ave, Rockford, IL 61104
      View Details
    • Contact for pricing
      77,350 SF

      Multi-Tenant Industrial Property For Sale

      Versatile industrial property with diverse tenant mix and income streams.
      901 9Th St, Rockford, IL 61104
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Rockford Industrial Warehouse Space Available

      Industrial warehouse space for rent in Rockford's manufacturing corridor.
      2020 Harrison Ave, Rockford, IL 61104
      View Details
    • Contact for pricing
      65,000 SF

      Industrial Space with Utilities Included

      Affordable industrial and office space for lease, utilities included.
      340 Blackhawk Park Ave, Rockford, IL 61104
      View Details
    • Contact for pricing
      8,857 SF

      Warehouse Space with Dock Door

      8,857 sqft warehouse featuring dock and drive-in doors.
      1817 18Th Ave, Rockford, IL 61104
      View Details
    • Contact for pricing

      Harrison Avenue Warehouse For Rent

      7500 sqft warehouse with I1 zoning and fenced lot.
      1138 Harrison Ave, Rockford, IL 61104
      View Details
    • Contact for pricing

      Rockford Commercial Properties on State

      Two adjacent properties with storefront, restaurant, retail, and parking.
      1021-1017 E State St, Rockford, IL 61104
      View Details
    • Contact for pricing

      Rockford Strip Center Investment Opportunity

      Thriving strip center near Downtown Broadway with long-term tenants.
      1209 7Th St, Rockford, IL 61104
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2135 15th St
    Rockford, IL 61104-7310
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!